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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Total revenues $ 32,591 $ 448,727 $ 298,073 $ 847,994
Expenses        
Management and franchise fees (1,827) 35,825 15,317 69,944
Depreciation and amortization 49,229 54,956 98,402 113,359
Property tax, insurance and other 25,348 31,201 54,041 61,797
General and administrative 11,673 11,765 23,441 22,925
Transaction costs 20 425 30 984
Total operating expenses 136,646 360,576 414,524 710,927
Other income 282 349 859 622
Interest income 579 1,073 3,545 2,245
Interest expense (23,794) (25,237) (47,607) (45,299)
Gain (loss) on sale of hotel properties, net (8) (24,835) 94 (24,835)
(Loss) income before equity in loss from unconsolidated joint ventures (126,996) 39,501 (159,560) 69,800
Income (Loss) from Equity Method Investments (975) (2,403) (390) (2,784)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (127,971) 37,098 (159,950) 67,016
Income tax benefit (expense) 11,805 (3,417) 12,955 (5,003)
Net (loss) income (116,166) 33,681 (146,995) 62,013
Net loss (income) attributable to noncontrolling interests:        
Noncontrolling interest in consolidated joint ventures 524 (96) 1,837 256
Noncontrolling interest in the Operating Partnership 568 (141) 760 (233)
Preferred distributions - consolidated joint venture 0 0 0 (186)
Redemption of preferred equity - consolidated joint venture 0 0 0 (1,153)
Net Income (Loss) Attributable to Parent (115,074) 33,444 (144,398) 60,697
Preferred dividends (6,279) (6,279) (12,557) (12,557)
Net (loss) income attributable to common shareholders $ (121,353) $ 27,165 $ (156,955) $ 48,140
Basic per common share data:        
Net income per share attributable to common shareholders - basic (in dollars per share) $ (0.74) $ 0.16 $ (0.95) $ 0.27
Weighted-average number of common shares - basic (in shares) 163,543,701 172,661,878 165,346,717 172,729,064
Diluted per common share data:        
Net income per share attributable to common shareholders - diluted (in dollars per share) $ (0.74) $ 0.16 $ (0.95) $ 0.27
Weighted-average number of common shares - diluted (in shares) 163,543,701 172,766,091 165,346,717 172,808,513
Comprehensive (loss) income:        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ (116,166) $ 33,681 $ (146,995) $ 62,013
Unrealized loss on interest rate derivatives (6,582) (21,645) (63,059) (35,781)
Reclassification of unrealized gain on discontinued cash flow hedges to interest expense 0 0 0 (2,250)
Comprehensive (loss) income (122,748) 12,036 (210,054) 23,982
Noncontrolling interest in consolidated joint ventures 524 (96) 1,837 256
Noncontrolling interest in the Operating Partnership 568 (141) 760 (233)
Preferred distributions - consolidated joint venture 0 0 0 (186)
Redemption of preferred equity - consolidated joint venture 0 0 0 (1,153)
Comprehensive (loss) income attributable to RLJ (121,656) 11,799 (207,457) 22,666
Occupancy [Member]        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 27,853 378,857 246,745 716,527
Expenses        
Cost of Goods and Services Sold 12,469 88,898 76,222 173,086
Food and Beverage [Member]        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 1,271 49,458 32,039 93,704
Expenses        
Cost of Goods and Services Sold 1,801 35,910 28,181 70,119
Hotel, Other [Member]        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 3,467 20,412 19,289 37,763
Expenses        
Cost of Goods and Services Sold 37,933 101,596 118,890 198,713
Hotel [Member]        
Expenses        
Cost of Goods and Services Sold 50,376 262,229 238,610 511,862
AOCI Attributable to Parent [Member]        
Comprehensive (loss) income:        
Unrealized loss on interest rate derivatives $ (6,582) $ (21,645) $ (63,059) (35,781)
Reclassification of unrealized gain on discontinued cash flow hedges to interest expense       $ (2,250)